Blog :: 07-2013

Summer Real Estate Market on Martha's Vineyard!

The real estate market on Marthas Vineyard continues to gain strength in its recovery from the 2008 recession. Weve been experiencing vibrant sales and rental activity all around. This is great news for all and is an occasion for both buyers and sellers to rejoice and take advantage of the opportunity to successfully jump into the mix and accomplish reasonable objectives. The market is neither a sellers market nor is it a buyers market. Instead it is a healthy mix of activity in which demand and supply have equilibrated. In the buyers favor, there is still a healthy load of inventory to choose from and, although prices are hardening up from 2008, they still havent had any noticeable increase. From the sellers point of view, there is a big pent up demand from the recession years. Prospective buyers who were previously faced with the uncertainty of the global economy have emerged from hibernation and are now actively seeking properties. Also, interest rates continue to be at all time lows making the supply of mortgage money affordable. In short, this is the perfect storm for real estate, and if you ever wanted to either sell or buy something on Marthas Vineyard, your window is now open.